There are several common types of electric rates and plans that you will find during your search. On the Choose Energy marketplace, you can generally expect to find the following options:
Fixed-rate energy plans
With a fixed-rate electricity plan, the rate you may each month for energy will not change for the duration of your contract. The only variables are energy usage and any government fees or taxes. These plans provide the most stability and predictability for monthly energy bills. Fixed-rate plans protect customers from the highs and lows in the energy market. Typically, fixed-rate plans lock consumers into a contract, which tends to last between 12 and 36 months, depending on the term length.
Variable-rate energy plans
Variable-rate plans are the opposite of fixed-rate options. With these plans, the rate you pay each month will fluctuate based on the market electricity prices. During times of low energy demand, this may mean you pay a lower electricity bill. But when demand goes up, your energy rate will increase, too. Variable-rate plans do not require you to sign a contract, so you have the flexibility to switch to another plan at any time.
Indexed rates are less common than fixed or variable rates. With an indexed rate, the rate you pay is calculated based on a commodity index for energy. Different providers will use various formulas to determine the rate you pay in an indexed plan. Be sure to carefully read the contract before signing up to ensure you fully understand how your rate will be calculated.
No deposit options
When you sign up for an energy plan, you may be required to pay a deposit if you don’t meet a provider’s credit threshold. If paying a deposit is not an option for you or you want to avoid a credit check altogether, Choose Energy can help you find a cheap, no-deposit electricity plan. There are several providers on our marketplace that offer prepaid energy plans. These plans allow you to bypass paying a deposit and instead pay for your electricity upfront. This way, you only pay for the amount of energy that you use. Enter your ZIP code above and use the filter feature to find no deposit and prepaid options in your area.
Green energy plans
Texas leads the nation in renewable energy. The Lone Star State produces the most wind energy in the country and is one of the top producers of solar power. Because of this, finding a green energy plan in Texas is easy for consumers. Every Texas energy plan includes some percentage of renewable energy in the mix. Some providers specialize in only offering 100 percent green energy plans, including Gexa Energy, Green Mountain Energy, and Chariot Energy. Enter your ZIP code above and filter for green energy to find renewable electricity plans in your area.
Commercial energy plans
Texas businesses also have the power to choose their energy provider. Nearly 3 million businesses in deregulated areas across the U.S. have taken advantage of affordable electric rates, competitive plans, and renewable energy options.
Choose Energy can build a custom quote tailored to businesses of all sizes. To speak with one of our energy experts about your Texas business energy plan, visit our business energy page and fill out the form at the bottom of the page. Once we have a little bit of information about your energy needs, we’ll compare business energy plans in your area and help you find the best commercial electricity deal available.